Digitzs, a payment processor platform that allows merchants to be paid the next day and choose their fees from a 0-3 percent range, is now raising funds on crowdfunding platform Crowdfunder. Among Digitzs’ investors, who have helped the company raise $380,000 thus far, is Kevin Harrington, investor shark on ABC’s “Shark Tank” and now an equity partner in Digitzs.
Digitz has the team, the traction and the technology to be the next big disruptor in the trillion dollar payments space.
The company’s product was “developed by pros from Visa, PayPal and Kount, [and] the solution exploits weaknesses in legacy payment systems. The solution targets merchants who don’t swipe cards or use shopping carts – a trillion dollar market growing at 15% per year.”
Currently, Digitzs is $380,000 toward its $500,000 goal, with a minimum reservation of $10,000, after opening May 4, 2015. It’s offering a 2 percent interest, with a term length of 18 months. The company’s valuation cap is $8,000,000, with a 25 percent conversion discount. It previously raised $100,000 equity and $425,000 in a convertible note from investors.
CEO and founder Laura Wagner brings significant experience to the company. According to her bio,
Laura was the founder of OTC, which pioneered card payments in McDonald’s and other QSRs (Quick Serve Restaurants). OTC paved the way for First Data’s $220 million acquisition of PayPoint. Laura has 20 years of experience in the payment space and holds 20 different trademarks and marketing patents.
In terms of traction, Digitzs has:
- Secured $1 billion in 2015 processing commitments from merchants
- Cemented a strategic deal with Moneris Bank, one of the largest banks in North America
- Brought in a top-notch management team that includes Head of Apple and Visa Payments, CFO of PayPal, Wells Fargo, JP Morgan Chase, Kount and more
The company’s top investors also include Sridhar Chityala, Shaun Botha and Andrew Ogawa.
According to Digitzs’ campaign on Crowdfunder, the company’s soft launch will take place this summer, with TicketSocket as its first customer.
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